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Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
 Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dry Index (BDI) to plunge by almost 30% in a month, ending the week at 2,694 points, down 90 on a daily basis. The index had rallied at more than 4,000 points just a few weeks, sparking renewed investment interest by ship owners. But, as most have realized by now, volatility will remain the norm for the market as the year progresses, with the so called “China factor” proving to be even more crucial for the market’s behavior.
According to Weberseas’ latest weekly report, “the expected mid-summer correction continued this week, affecting all sizes, but in particular the larger sizes with the capesize and panamax. However not to forget that China and Taiwan were on holiday from Monday to Wednesday this week made matters worse. On the other hand, positive news are coming from China where the country's net coal imports are expected to reach a huge 170 million tonnes this year. The same figure for 2009 was 103 million tonnes so this year we could see a jump in coal imports by as much as 65%. And why is this important news? Simply because China's energy consumption comes mostly from coal - in 2009 alone coal accounted for nearly 70% of the country's total energy consumption. Thus, coal movements into China will increase and this will be reflected in freight rates” said Weberseas.
Reflecting on Chinese economy and more interestingly for dry bulk ship owners on the steel industry, Commodore Research issued its monthly report on the subject, saying that “Chinese crude steel production set another new monthly record in May - but fears of an impending economic slowdown coming to China persist. China produced 56.17 million tons of crude steel in May, an increase of 770,000 tons (1%) from the previous monthly record of 55.4mt produced in April. Despite another month of record setting crude steel production, many market observers continue to expect that rapid economic growth in China will soon decrease.
Concerns are flooding the financial and shipping markets that recent government policies aimed at restricting bank lending and slowing the swift rise in real estate prices will drastically reduce economic growth in China. We believe that these fears are valid but anticipate Chinese economic growth will maintain robustness for the foreseeable future, even if lending moderates and real estate prices become less robust. Any decline in growth is expected to be small, and moderate lending and firm industrial demand and consumer spending are expected to continue. We do believe, however, that Chinese steel output will decrease in the short-term from an extremely robust level of current production” said the report.
It went on to state that Chinese steel prices remain under pressure and steel mills have begun to announce short-term production cuts and “maintenance” that will slow some blast furnaces. “Chinese steel stockpiles have decreased from a month ago, though, with stockpiles of flat and construction steel products now totaling about 15.2 million tons, a decrease of 300,000 tons (-2%). Current stockpiles are 3.38mt (-18%) lower than the record 18.58mt of steel stockpiled in the beginning of March. Chinese steel output is therefore still expected to remain strong even though output is likely to decline this month as steel producers react to falling prices. Chinese steel exports continue to reach monthly volumes not seen since 2008. China exported 4.94 million tons of steel in May, an increase of 630,000 tons (15%) from the 4.31mt exported in April. In the first five months of 2010, Chinese steel exports have averaged 3.59mt per month, an increase of 1.54mt (75%) from 2009‘s monthly average of 2.05mt. A steady increase in global steel demand continues to contribute to robust Chinese steel production” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
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